Why do bankers use M instead of K?

Asked by: Tillman Donnelly  |  Last update: October 16, 2023
Score: 4.8/5 (53 votes)

Many financial institutions, banks, and large companies use the abbreviation MM to represent the figures in millions. They found it quite easy as it reduces the complexity of representing the whole numbers. Traditionally M was used as thousands in roman numbers so MM is 1,000 * 1,000 = 1,000,000 which is 1 million.

What does M mean in banking?

The use of two m's to denote millions is becoming less common. Frequently, in finance and accounting settings now, an analyst will use k to denote thousands and a capitalized M to denote millions. For example, $100k x 10 = $1M.

Should I use M or K?

The financial world uses "K" when referring to "per thousand dollars". Why is there such a difference in terms when they basically mean the same thing? K comes from the Greek world "kilo" which means one thousand and is used in metric / decimal systems. The corresponding prefix for one million is M.

Does M mean millions or thousands?

M is the Roman numeral for thousand and MM is meant to convey one thousand-thousand — or million. To take it further; one billion would be shown as $1MMM or one-thousand million.

Is it M or K for thousand?

Here's a quick reference to abbreviating numbers on your resume: Million = MM or M. Billion = B. Thousand = K.

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30 related questions found

What does K and m mean in money?

K or k is used for a thousand. NEVER use the Roman Numeral M unless it is clear that you are using Roman numerals. M or m is normally used for a million, but mill is also used. mm means a millimetre and ml means a millilitre (or cubic centimetre).

Is it 1 million or 1 K?

What does “K” or “M” behind numbers mean? On the Internet, 1K is used to represent 1 thousand and 10K is used to represent 10 thousand, similarly, 1M is used to represent 1 million. You must have understood this thing easily because “M” means Million, so “M” would be used for million.

Why does m mean million then K?

What does '1K' or '1M' mean? In the digital world, 1K is used to refer to 1 thousand, and 1M is used to refer to 10 lakh. so when it says 18.5k it means 18,500. the letters act as a suffix to the numerals as a substitute for zeroes.

What is m in terms of money?

The Roman numeral M is used to indicate units in thousands. For example, an annual salary of $60,000 might appear as $60k instead of $60M.

Does Big m mean million?

The standard for million, is a capital 'M', unlike one thousand which is a small 'k'. 'm' in science and engineering stands for one-thousandth.

Why is $1000 called a grand?

The term “grand” has been in use as an American slang from the early 1900s, presumably from the phrase “a grand sum of money” which meant $1,000. Well, it is not yet clear who first used the phrase. The best we can do, in most cases, is to find the earliest written usage, which is around 1915 for 'grand'.

Should M be capitalized for million?

So, million, billion, hundred, thousand are NOT capitalized, and neither are the words “billionaire” or “millionaire” as they are considered to be professions, and they follow the spelling rules of that class.

What does the M stands for?

m is the standard abbreviation for metre (or meter) in the International System of Units (SI). However, m is also used as an abbreviation for mile. M is used as the unit abbreviation for molarity. With money amounts, m or M can mean one million: For example, $5m is five million dollars.

What are the benefits of M banking?

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What does $100 m mean?

"Mille" is Latin for "thousand". MM is Mille Mille. So technically MM would be "thousand thousands" or "a million" . I have seen $100M also which used to mean 100-million-dollars but in that example one uses a currency symbol AND an uppercase M. (This is common in financial uses.)

What are the M types of money?

M1, M2 and M3 are measurements of the United States money supply, known as the money aggregates. M1 includes money in circulation plus checkable deposits in banks. M2 includes M1 plus savings deposits (less than $100,000) and money market mutual funds. M3 includes M2 plus large time deposits in banks.

What does $20 m mean?

I believe the traditional usage requires capital M: $20M = $20,000 $6MM = $6,000,000 Of course, it's more common now to use lowercase k: $30k = $30,000.

Where do you put $1 M?

Ways To Invest 1 Million Dollars.
  • Stock Market. Stocks are a good investment choice as they usually generate returns through dividends and growth in share prices. ...
  • Bonds. ...
  • Rental Properties. ...
  • ETFs (Exchange-Traded Funds) ...
  • Start or buy into a business. ...
  • Peer-to-Peer Lending. ...
  • CDs and Money Market Accounts. ...
  • Fixed Rate Annuities.

Does small M mean million?

Million is commonly abbreviated in financial documents or letters. In these documents, million is generally abbreviated as: M (also m or m.)

What is larger M or K?

K means “kilo” aka 1,000. (for example, 1 kilometer = 1,000 meters). M means “mega” aka 1,000,000.

What is the difference between K and M views?

"M" stands for "million", so if a video has "3m views", it means that the video has been viewed 3 million times. Similarly, "k" stands for "thousand", so if a video has "5k views", it means that the video has been viewed 5 thousand times.

Is $100000 the same as $1 million?

There are ten hundred thousands in one million. 1,000,000 divided by 100,000 equals 10.

How many K is 1m?

How many thousand is 1 million? 1000 thousand is equal to 1 million.

Is 1000k a million?

1,000 k is not used very often but it does = 1,000,000 or one million. Most people prefer to use mil.